Silver September futures opened 0.3% lower on Wednesday, July 29, 2026, at $57.38 per ounce, but prices are holding steady this morning. This stability comes amidst renewed airstrikes in the Middle East and ahead of a Federal Reserve rate-setting meeting conclusion this afternoon. Geopolitical tensions are prompting safe-haven demand for precious metals, while the war in Iran is driving up energy prices, increasing the likelihood of a potential Fed rate hike later this year. The CME Group's FedWatch tool indicates a 64.2% chance the Fed will hold rates steady and a 35.8% chance of a 25 basis point hike.